NFA Trust

[Guest utarch00]

I did not kmow where to put this, so move it if need be.

Has anyone setup a NFA Trust here in Tenn? I am looking at getting a SBR AR-15 and have decided that I think that I want to do it through a trust.

The question I have is, Do you need to file and/or register a Trust in the state of Tenn.?

Thanks in advance.

[Guest utarch00]

In case anyone cares, you do not have to register a Trust in Tenn.

[Guest macho999]

Are you sure a trust works or does it have to be a corporation or LLC type deal? If you live where you can get a sheriff sign-off I'd think it would be better to do it that way. When you put your NFA guns in a company name, if you dissolve the company you can't transfer the guns to yourself without going through the NFA **** again.

[Guest utarch00]

The Trust works. It is similar to a corp, but there are no annual fees or taxes, etc. There is a 30+ page thread over on AR-15.com about it. The Trust stays an entity until my death, then it gets transfered to whomever I decide to give it to and then they have to pay for the transfer, but tha tis no different then if I want to give/sell it to someone, going the other route.

[Guest Florida Gun Trust Lawyer]

Most people seem to be using Quicken to set up generic trusts. Although you probably know how to transfer a c3 (class 3) weapon correctly, the real problem is when or if you are unable to be the trustee. will the next trustee, perhaps a family member or friend, and the beneficiary ( in the case of your death) know what needs to be done, or will they just give the gun to the beneficiary?

A gun trust with specific NFA language adds a level of instructions and gives the trustee the ability to reject items not transfered correctly. This can protect your family, and friends from criminal and civil penalties (10 years in jail and 250,000 in fines).

_________________________

Florida Estate Planning Lawyer, David Goldman

Gun Trust Articles: http://www.floridaestateplanninglawyerblog.com/estate_planning/gunfirearms_trust/

Blog: http://www.floridaestateplanninglawyerblog.com

http://www.woodatter.com/

[Guest CrazyLincoln]

Woah. Trust Lawyer on the board. Thanks bunches FGTL and welcome!